Cake DeFi founder on crypto investing: 'Bitcoin is no longer an investment, but pure casino'

Market-data aggregators have cited Bitcoin's price gain over the past 12 months at about 62%, while leading AI-related equities showed more modest returns. For instance, the Global X Robotics & Artificial Intelligence ETF (BOTZ) rose roughly 15.9%, and the Energy Select Sector SPDR Fund (XLE) remained nearly flat at around 0.6%. These figures suggest that Bitcoin outperformed both AI and energy indices during this period.

In 2025, evidence shows that Bitcoin's 30-day implied volatility increased from 33% to 37%, as reported by CoinDesk. Broader studies indicate that equity indices tied to AI and energy sectors maintain much lower volatility levels, often ranging from 18-28% for 30-day realized volatility. This suggests that despite some stabilization, Bitcoin remains significantly more volatile than typical sector-equity ETFs.

Hosp is a medical doctor turned blockchain entrepreneur who co-founded Cake DeFi in 2019 with U-Zyn Chua; he was previously a professional kitesurfer and an early crypto evangelist. As CEO of Cake Group, Hosp has authored books on crypto investing and publicly advocates for broader retail access to decentralized finance (DeFi) yield products.

Cake DeFi was launched in Singapore in 2019 by Hosp and Chua as a fintech platform offering retail users access to staking, lending, and liquidity-mining of cryptocurrencies. Under the wider Cake Group umbrella, it serves both retail and institutional clients. The company describes its mission as making DeFi simple and accessible while seeking regulatory clarity through Singapore’s fintech regime as it expands regionally.